ATLANTA & NEW YORK–(BUSINESS WIRE)–Intercontinental Exchange (NYSE: ICE), a leading operator of global
exchanges and clearing houses and provider of data and listings
services, today announced the completion of the first auction for the
ICE Permian WTI Crude Oil Storage Futures (HOS), deliverable at Magellan
Midstream Partners, L.P.’s (NYSE: MMP) terminal in East Houston, Texas.

The auction sold 1,350 lots, or 1.35 million barrels, of storage to five
participants, spread across six monthly contracts: May19, Jun19, Jul19,
Aug19, Sep19 and Oct19. The storage auction, held at 10:30 am EST on the
first Tuesday of each month, is a blind Dutch auction where Magellan
makes a variable amount of storage available for bidding. Winning bids
of the auction result in a position in the futures contract.

“These contracts provide another tool for customers to manage their
Permian WTI positions in the Gulf Coast,” said Jeff Barbuto, Global Head
of Oil Business Development at ICE. “We were pleased to see so much
interest in our fist storage futures auction.”

ICE Permian WTI Crude Storage Futures are listed on ICE Futures Europe
and represent the right to store 1,000 barrels of Permian WTI crude oil
at Magellan’s East Houston Terminal. Magellan has allocated one million
barrels a month of capacity, and deliveries against the contract will
need to be supplied either by Magellan’s Longhorn and BridgeTex
pipelines, which are recognized for their consistent high quality, and
unblended barrels, or have a quality that matches that supply.

ICE is home to the world’s global
crude and refined oil markets. Around half of the world’s oil
futures are traded on ICE’s markets, including futures and options on
the global benchmark ICE
Brent crude, the U.S. benchmark West Texas Intermediate (WTI) crude,
the Middle Eastern and Asian benchmark ICE Platts Dubai
crude oil, Gasoil,
Heating Oil and RBOB Gasoline, as well as hundreds of additional grades
and oil products.

About Intercontinental Exchange

Intercontinental
Exchange (NYSE: ICE) is a Fortune 500 company formed in the year
2000 to modernize markets. ICE serves customers by operating the exchanges,clearing houses and
information services they rely upon to invest, trade and manage risk
across global financial and commodity markets. A leader in market data, ICE
Data Services serves the information and connectivity needs across
virtually all asset classes. As the parent company of the New
York Stock Exchange, the company is the premier venue for raising
capital in the world, driving economic growth and transforming markets.

Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual property
rights of Intercontinental Exchange, Inc. and/or its affiliates is
located at http://www.intercontinentalexchange.com/terms-of-use.
Key Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation can
be accessed on the relevant exchange website under the heading “Key
Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995 — Statements in this press release regarding ICE’s business
that are not historical facts are “forward-looking statements” that
involve risks and uncertainties. For a discussion of additional risks
and uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see ICE’s Securities and
Exchange Commission (SEC) filings, including, but not limited to, the
risk factors in ICE’s Annual Report on Form 10-K for the year ended
December 31, 2018, as filed with the SEC on February 7, 2019.